H4 Analysis:

-> Swing: Bullish.
-> Internal: Bearish.

Bias and analysis to remain the same as analysis dated 30 June 2026.

Price did not print bullish CHoCH to indicate bullish pullback phase initiation. Price instead printed a new low followed by a bullish CHoCH

Price is currently trading within and established internal range, however, I will continue to monitor price with respect to depth of pullback.

Intraday expectation:

Price to trade up to either premium of internal 50% EQ, or H4 demand zone before targeting weak internal low, currently priced at 3,942.100.

Note:

Gold remains volatile as tensions between the US, Israel, and Iran keep safe‑haven demand elevated.

Markets are reacting quickly to every headline, while uncertainty around the Fed’s easing path and shifting U.S. policy under President Trump, especially tariffs continues to fuel choppy price action.

For newer traders, the key is simple, stay flexible and manage risk carefully, as fast spikes and sudden reversals are a normal part of the current XAU/USD environment.

H4 Chart:

M15 Analysis:

-> Swing: Bearish.
-> Internal: Bullish.

Analysis and bias remain the same as yesterday's analysis dated 06 August 2026

Analysis did not print according to my analysis dated 20 July 2026.

Price instead targeted strong internal high and printed a bullish iBOS.

Price has subsequently printed a bearish CHoCH to indicate bearish pullback phase initiation. I shall however continue to monitor price with respect to depth of pullback.

Price is currently trading within an established internal range.

Intraday expectation:

Price to trade down to either discount of internal 50% EQ, or M15 supply zone before targeting weak internal high, priced at 4,304.310.

Note:

Gold remains highly reactive on M15 as geopolitical risk continues to drive quick, headline‑led moves.

The tension between the US, Israel, and Iran is keeping safe‑haven demand elevated, with markets still sensitive to any sign of escalation.

At the same time, shifting US tariff policy under President Trump is adding extra uncertainty, fuelling sharp intraday swings and increasing the likelihood of sudden sentiment flips. Liquidity pockets and whipsaws remain common, making disciplined risk management essential.

Gold’s geopolitical premium is still firmly in place, and until tensions ease, short‑term volatility is likely to stay front‑loaded.

M15 Chart: